Weekly SPI increses by 1.28%, yearly increase hits 23.59% M Haris

The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.28% week-over-week (WoW) as of July 4, 2024, marking a 23.59% increase year-over-year (YoY) compared to the corresponding period last year, according to data released by the Pakistan Bureau of Statistics (PBS). The Combined Index rose to 318.61 from 314.57 a week earlier and was up from 257.79 a year ago.

During the week, prices increased for 29 out of 51 items (56.86%), decreased for 5 items (9.80%), and remained stable for 17 items (33.34%).

Major price increases on a weekly basis were observed for Tomatoes (70.77%), Wheat Flour (10.57%), Powdered Milk (8.90%), Diesel (3.58%), and Petrol (2.88%). Conversely, prices rose for Onions (9.05%), Wheat (1.79%), Potatoes (1.04%), Eggs (0.79%), and Bananas (0.60%).

Weekly SPI changes across income groups ranged from 1.23% to 1.44%. The lowest income group saw a 1.43% increase, while the highest income group experienced a 1.23% rise.

On a yearly basis, SPI changes across income segments ranged from 16.97% to 26.49%. The Lowest Income Group recorded a 16.97% increase, while the highest income group saw a rise of 21.39%.

The average price of Sona urea was Rs4,746 per 50 kg bag, up by 0.13% from the previous week and by 51.52% from last year. Meanwhile, the average Cement price stood at Rs1,409 per 50 kg bag, marking a significant 10.48% increase from the previous week and a 23.16% increase from last year’s prices.